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BIRD v. PENN CENTRAL COMPANY

Civ. A. No. 71-358.

334 F.Supp. 255 (1971)

John Basil BIRD et al., Plaintiffs, v. The PENN CENTRAL COMPANY et al., Defendants.

United States District Court, E. D. Pennsylvania.

November 16, 1971.

Attorney(s) appearing for the Case

James J. Binns, Philadelphia, Pa., E. Barrett Prettyman, Jr., Stuart Philip Ross, Washington, D. C., Robert G. Schloerb, Chicago, Ill., for plaintiffs.

Henry T. Reath, Philadelphia, Pa., for defendants Ferdinand L. Kattau and William F. Kirk.

David P. Bruton, Lewis H. Van Dusen, Jr., Philadelphia, Pa., for defendant Walter H. Annenberg.

OPINION

JOSEPH S. LORD, III, District Judge.

Plaintiffs in this action are certain named underwriters trading under the name of Lloyds of London. They seek rescission of an insurance policy providing coverage for defendants which was issued on July 2, 1968, effective as of July 3, 1968. Defendants are the Penn Central Company and numerous individuals, all of whom are present or past directors and/or officers of Penn Central.

On July 2, 1968, defendant...

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